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TENNESSEE FARMERS COOPERATIVE

Talk about multi-tasking. The Tennessee Farmers Cooperative (TFC) keeps the cows fat, the bugs away, the roof on the barn, and the tractors running. Through a system of about 60 local co-ops, TFC supplies agricultural necessities, such as animal-health products, feed, fertilizer, outdoor power equipment, seeds, and tires, to area farmers. Its services include finance, credit, and risk management. It operates about 150 retail outlets, located in more than 80 of Tennessee's 95 counties and five neighboring states. The outlets are open to the public, as well as co-op members. TFC was chartered in 1945.

Operations

The cooperative's affiliations include a research agreement with Cooperative Research Farms, which conducts research on animal nutrition and practical feeding problems at three research farms and through various universities; Allied Seed feed and turf grasses; Universal Cooperatives, providing manufacturing, purchasing, and distribution services; and FFR Plant Breeding Research Cooperative, which does extensive genetic research and testing in on-farm evaluations throughout major crop production areas.

TFC also works with CoBank, a cooperative banking institution that offers loans and other financial services. It specializes in services for agricultural cooperatives, rural utilities, and Farm Credit associations.

Geographic Reach

The Tennessee Farmers Coop (TFC) is based in LaVergne and has facilities in east and west Tennessee. TFC operates three distribution centers, three fertilizer plants, five feed mills, a metal fabrication plant, a farm equipment facility, and a maintenance shop. It also operates barge terminals in Nashville and Ft. Loudon. The coop has out-of-state branches in Kentucky, Georgia, Virginia, North Carolina, and Mississippi.

Financial Performance

In fiscal 2012 (ended July) the coop reported a record $814 million in sales, an increase of more than $104 million or 15% versus the prior year. It posted a profit of $19.3 million. The increase in sales reflects higher commodity prices as well as an increase in units sold in most areas of its business. All of TFC's operating departments were profitable in fiscal 2012, The coop returned $20 million to its members and associates